In a recent blog we discussed grant, warranty, and quitclaim deeds, all of which are used to give ownership of a property to the holder of the deed for that property. In this week’s blog we’ll cover some of the lesser known types of deeds that are not used as commonly but still may apply in certain situations. These include gift deeds, deeds-in-lieu of foreclosure, and tax deeds.
Gift deeds are used to transfer property without money. Gift deeds are commonly used when property is transferred between relatives.
Deed-In-Lieu of Foreclosure
This deed may be used when the seller of a property is under threat of foreclosure. The seller may ask the seller to accept the deed-in-lieu of foreclosure to avoid foreclosure.
Tax deeds are used when the home is sold to pay unpaid property taxes.
American Home Title Group has been helping Marylanders with their title needs for over 25 years. In the ever-volatile real estate industry, a company’s longevity can be attributed to the quality of its work. With more than 120 years of experience in real estate and titles, American Home Title Group is your Howard County title company ready to provide you with the best experience possible in every capacity.
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As your Howard County title company, American Home Title Group is ready to assist you today with a variety of real estate needs you may have. Contact us now to begin your home titling process. Our phone number is 410-750-8500. To reach us via email, please send a message to firstname.lastname@example.org. Follow our blog and keep up with us on Google+, Facebook, and Twitter.